Obama can blame Bush, Martin Van Buren, or Mary Tyler Moore -- but the facts are simple: those last four bars are owned 100% by the Democrat Party. The Stimulus package, which I like to call "the most audacious armed robbery in world history" continues to be spent every year as it is built into the baseline budget. Which somehow seems to escape legacy media's attention as they discuss taxing "the rich", "oil companies", "doctors who charge $30,000 for an amputation", and anyone else who tries to make an honest living.

The CBO defines the GDP gap as, essentially, the delta between where the GDP is and where it should be. They're too diplomatic to put it the way I would, which is: "the difference between where the GDP is now and where it would be if we didn't have a radical ideologue beholden to the environmental flat-Earth no-growth Marxists and the public sector union bosses as president".

I don't believe the CBO's projections for the future, especially in the case of this chart. There's a concept called "reversion to mean" that, roughly translated, says that figures generally return to their average. Note the average interest rates the country's seen over the last four decades. Now add in the monstrous amounts of global debt that lies lurking, ready to smash into the global economy at any moment thanks to the insanity of bankers and their surrogates in government. We'll be lucky if we only see a reversion to the mean over the next 10 or 15 years.

• "The U.S. housing industry, where experts believe the economic crisis began, is the target of President Barack Obama's latest initiative to strengthen the economy. Mr. Obama has unveiled a $75 billion plan to prevent as many as nine million Americans from losing their homes." (2/18/2009)

• "Obama expands mortgage modification effort - Under fire to do more to stop the foreclosure crisis, the Obama administration announced new mortgage modification steps on Friday to help the unemployed and those who are "underwater" with a bigger loan than their home is worth." (3/26/2010)

Using Alexa's traffic rankings, the following represents a tabular view of the top 150 conservatively focused news and blog sites. Each column can be sorted by clicking the column header. And just click on the site-name to open a new window and visit the website. And, yes, I know that some of these sites aren't truly "conservative". That said, conservatives often cite and reference them, so I've included them for purposes of completeness.

...[For the DHS,] researchers from the University of Maryland and University of Massachusetts-Boston (PDF) mapped all events considered terrorism since 1970 to 2008 in the United States (below). This established areas they deemed terrorism “hot spots” but also revealed that terrorism is actually “widely dispersed”. So widely dispersed that every state has experienced some act of terrorism in some form, according to the report. The report defines a hot spot as an area where more than the average number of terrorist attacks have taken place — the average for the U.S. is six.

...The research found that a third of all terrorist attacks during that time-frame studied took place in five metropolitan cities — Manhattan, New York (343 attacks); Los Angeles County, Calif. (156 attacks); Miami-Dade County, Fla. (103 attacks); San Francisco County, Calif. (99 attacks); and Washington, D.C. (79 attacks).

...In addition to tracking areas prone to terrorist attacks, the study authors saw trends in timing of terrorist attacks and type of motivation behind the attack. For example, co-author Bianca Bersani, assistant professor of sociology at the University of Massachusetts-Boston, said that terrorist attacks they classified as extreme left-wing — “groups that want to bring about change through violent revolution rather than through established political processes” – were limited almost exclusively to the 1970s. Whereas in the 1980s terrorism with religious motivations took place and the 1990s had extreme right-wing attacks by “groups that believe that one’s personal and/or national “way of life” is under attack and is either already lost or that the threat is imminent”.

A comment following the article voiced the obvious follow-up question: "Didn't our trusty Congress just declare the United States part of the battlefield on the war on us, I mean war on terror? That was part of the excuse to pass NDAA, wasn’t it?"

QOTD: "Dutch satirist Johan Vlemmix has decided not to perform his latest hit 'Do the Burqa' onstage following death threats. The song, a carnival parody to the music of Van McCoy’s Do the Hustle, is a huge success on YouTube, so much so that the video provider has switched off the comments facility. Too many people were posting angry reactions saying that they had been insulted.

The images show a woman wearing a T-shirt which can be instantly converted into a burqa, albeit one that does not cover the breasts." --BigFurHat

Monday, January 30, 2012

The Democrats' 2009 Stimulus package was, in my estimation, the most audacious armed robbery in world history. Literally hundreds of billions of dollars were stolen from American taxpayers -- and generations yet unborn -- to reward Democrat campaign contributors.

Solyndra was only the most basic example of these crimes. In fact, though you wouldn't know it from reading the funny papers, a whole series of "green energy" companies are in varying stages of collapse. For the most recent example, please consider: "Another Stimulus-Backed Energy Company Files for Bankruptcy":

After months of financial turmoil, an Energy Department-backed lithium ion battery company has filed for Chapter 11 bankruptcy protection. The company, Ener1, received a $118 million grant from DOE in 2010 as part of the president’s stimulus package. The money, which went to Ener1 subsidiary EnerDel, aimed to promote renewable energy storage battery technology for electrical grid use.

Beacon Power Company received $39 million of its government-guaranteed loan before it filed for bankruptcy. Beacon Power developed new technology that supposedly provides energy storage designed to help the intermittent solar and wind power be used by power grids, which need stable power to remain reliable.

Just seven months after California-based solar power company Amonix Inc. opened its largest manufacturing plant, in North Las Vegas, the company’s contractor has laid off nearly two-thirds of its workforce... Amonix received a $5.9 million investment tax credit through the American Reinvestment and Recovery Act in 2010...

I've got a million of 'em. In fact, that's why I created "The Handy-Dandy EnergyGate Cheat Sheet" -- to keep track of all the wanton criminality associated with the "green collar" jobs that are disappearing faster than a double-chocolate brownie placed in front of Michael Moore.

I would wager $1,000 that a complete investigation of each "green energy" company and its backers -- by third-party, forensic accountants -- would expose a web of ties linking those who benefited to some of the Democrat Party's largest donors. Cause that's the way they roll.

The most shocking aspect of these crimes is that the White House privately admitted that the Stimulus had nothing -- Nuh. Thing. -- to do with rescuing the economy. A recently revealed, December 15, 2008 memo from Obama's senior economic adviser Larry Summers to the president stated explicitly that the suggested spending packages were not about rescuing the economy... they were about rewarding Obama's backers.

The Stimulus is an ongoing crime perpetrated by the Democrats against the American people.

And why do I call this thievery an "armed robbery"? Said simply, Obama and his minions plundered America's wealth -- indebting an untold number of future generations in the process -- using the force of law. This is, as Bastiat put it, "legal plunder."

It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder.

What are the consequences of such a perversion? It would require volumes to describe them all. Thus we must content ourselves with pointing out the most striking.

In the first place, it erases from everyone's conscience the distinction between justice and injustice.

No society can exist unless the laws are respected to a certain degree. The safest way to make laws respected is to make them respectable. When law and morality contradict each other, the citizen has the cruel alternative of either losing his moral sense or losing his respect for the law.

Bastiat was describing, more than 150 years before they came to power, the 111th Congress and President Obama.

While I support Rick Santorum in this primary process, I don't care if a crippled kangaroo is the GOP candidate. I will vote to oust Obama and to begin to save this precious country. Those who want to "sit it out" in protest should consider the impact of their inaction on subsequent generations, who we've already condemned to an ominous future. If collapse is what you seek, remember that this generation -- our generation -- will be forever marked as those who lost America.

This theft will not stand. It must not stand. And I will walk on broken glass and hot coals to vote this failed president out of office in November, while bolstering the number of true conservatives in Congress. It's the least we can do. So stop bitching about Mitt Romney, the GOP establishment, or the fact that your latte isn't hot enough. We've been at this for little more than two years. And Rome wasn't built in a day.

Surging Greek and Portuguese bond yields? Plunging Italian bank stocks? The projected GDP of the Eurozone? In the grand scheme of things, while certainly disturbing, none of these data points actually tell us much about the secular shift within European society, and certainly are nothing that couldn't be fixed if the ECB were to gamble with hyperinflation and print an inordinate amount of fiat units diluting the capital base even further...

No: the one chart that truly captures the latent fear behind the scenes in Europe is that showing youth unemployment in the continent's troubled countries (and frankly everywhere else). Because the last thing Europe needs is a discontented, disenfranchised, and devoid of hope youth roving the streets with nothing to do, easily susceptible to extremist and xenophobic tendencies: after all, it must be "someone's" fault that there are no job opportunities for anyone.

[The accompanying chart represents] youth (16-24) unemployment in three select European countries (and the general Eurozone as a reference point). Some may be surprised to learn that while Portugal, and Greece, are quite bad, at 30.7% and 46.6% respectively, it is Spain where the youth unemployment pain is most acute: at 51.4%, more than half of the youth eligible for work does not have a job! Because the real question is if there is no hope for tomorrow, what is the opportunity cost of doing something stupid and quite irrational today?

Bonus Question: what do you call people who try to replicate Europe's failed social welfare state -- a bubbling cauldron of debt-fueled misery and civil unrest -- here in America?

QOTD: "How long before we see a FLOTUS tarmac tantrum? We did get two divas for the price of one. As longtime observers of the royal Obamas have long observed: Mr. and Mrs. Cranky Pants’ problem has never been the color of their skin. It’s the thinness." --Michelle Malkin

Sunday, January 29, 2012

Several bloggers requested that I create some buttons or sidebar badges for the new BadBlue news service. Okay, it wasn't several. It was one. But still...

To use this beauty:

Just copy this text and paste it into your template.

Or to use one of the following buttons, simply click the one you want, then copy the text in the HTML block below to paste into your template:

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HTML to use in your template:

If you don't know what BadBlue is, click here. Basically, it's a news service for the rest of us, completely automated using social networking chatter as the barometer for promoting news stories. So far it seems to be catching on.

Ann Coulter is one of America's most talented conservative columnists. Of late, she has been curiously dogged in attacking Newt Gingrich -- unquestionably a captain of the "Reagan Revolution" -- while backing a man whose conservative credentials are dicey at best. Today Gingrich fired back.

Fox News Latino’s Victor Garcia did a phone interview with Newt Gingrich. During which the Former Speaker was asked about the recent Ann Coulter and Tom Delay criticisms...

Victor Garcia: You have been taking a lot of hits from Tom Delay now, Ann Coulter some of these people that some would consider on the far right of the conservative spectrum. What is your response to the criticism of those ones? Why do you think they are attacking you?

Newt Gingrich: Look I think there are a whole bunch of folks who represent the old order; they attacked Ronald Reagan in 1980 exactly the same way. They are looking at a national poll that shows me ahead of Romney 52-39 in a two way race and they are recognizing that if I come back as president, that I will be for very dramatic, very bold change and they are terrified. I have no interest in what Tom Delay did that got him in trouble. I thought it was wrong and a mistake, I have a very different approach to that and I have no Idea what motivates Ann Coulter but I find that she is all over the map. Basically she is for Romney and therefore anything she says about me is a reflection of the fact that she is for Romney. I expect people who are for Romney to attack me because they are terrified because he is losing.

I have no problem whatsoever with Coulter voicing her opinion, but she should -- like Karl Rove -- disclose whether any financial interests are playing a part in her support for Romney.

Occupy Oakland protesters broke into City Hall, stole an American flag from the council chamber and set it afire Saturday night punctuating a wild day on the streets of the East Bay city in which police deployed tear gas, arrested more than 100 marchers and dodged hurling objects... Demonstrators spent the day trying to break into a convention center, and temporarily occupying City Hall and a YMCA, all while snaking around lines of riot-clad police.

...It marked the first major clashes between protesters and police since November and left three officers with minor injuries, as protesters threw bottles, metal pipe, rocks, spray cans and “improvised explosive devices” and lit flares, police said.

...About 300 people were arrested Saturday during a chaotic day of Occupy protests that saw demonstrators break into City Hall and burn an American flag, as police earlier fired tear gas and bean bags to disperse hundreds of people after some threw rocks and bottles and tore down fencing outside a nearby convention center.

...Dozens of police officers remained on guard outside City Hall around midnight following the most turbulent day of protests since November, when Oakland police forcefully dismantled an Occupy encampment. An exasperated Mayor Jean Quan, who faced heavy criticism for the police action last fall, called on the Occupy movement to "stop using Oakland as its playground."

...Quan said that at one point, many forced their way into City Hall, where they burned flags, broke an electrical box and damaged several art structures, including a recycled art exhibit created by children.

Contrary to rumor, the President and Democrats in Congress really do have a national security strategy. See if you can figure out what it is.

...President Obama and Secretary of Defense Leon Panetta have already settled on a plan to slash $487 billion from existing manpower, as well as from procurement and development of equipment and weapons. The cuts include reducing the Army by 72,000 people and the Marines by 20,000. The cuts also include elimination of six tactical fighter squadrons and one training squadron, plus buying fewer F-35 Joint Strike Fighters -- on top of already planned reductions in the number of F-22 air superiority fighters to be put in service. The Navy will decommission seven cruisers and two amphibious craft, plus delay its procurement process for new ships. Together, these moves will dramatically reduce our ability to put "boots on the ground" and to insure the air superiority needed to protect and assist U.S. forces in major conflicts. Having such forces at the ready is also the best way to keep minor conflicts from exploding into big ones.

But the Obama-Panetta cuts aren't nearly enough for some in Congress. On Friday, representatives Barney Frank of Massachusetts, Barbara Lee and Lynn Woolsey of California, and Rush Holt of New Jersey wrote Obama to encourage him to "take even bolder leadership on this issue as you finalize your budget." They want Obama to double the Pentagon cuts because "the Cold War is long over, and no remotely comparable adversary has emerged or is likely to emerge. ... We believe that savings of around $900 billion over the next 10 years can be realized." Following their advice would greatly reduce the reach of American power, and make us seem like a paper lion to the bad guys of the world.

...The terrible irony here is that military spending has been on a steady decline since 1965, as seen in the nearby chart. And, as the defense portion of the budget has contracted for nearly five decades, entitlement spending has exploded... Obama, Panetta and their liberal Democrat allies like Frank are playing chicken with American security.

QOTD: "The president certainly had facts and figures at his disposal. He boasted that his regulatory reforms “will save business and citizens more than $10 billion over the next five years.” Wow. Ten billion smackeroos! That’s some savings — and in a mere half a decade! Why, it’s equivalent to what the government of the United States borrows every 53 hours. So by midnight on Thursday Obama had already re-borrowed all those hard-fought savings from 2017. “In the last 22 months,” said the president, “businesses have created more than three million jobs.” Impressive. But 125,000 new foreign workers arrive every month (officially). So we would have to have created 2,750,000 jobs in that period just to stand still."--Mark Steyn

Saturday, January 28, 2012

Even if [Friday's] GDP report—for the fourth quarter of 2011—shows 3 percent growth or better [Ed: it did not, coming in at 2.8, worse than expected], it would be just the fourth time that has happened since the economy began turning up in June 2009: 3.8 percent in the fourth quarter of 2009, 3.9 percent in the first quarter of 2010, and 3.8 percent in the second quarter of 2010. But no 3 percent-plus quarters since then.

The first nine quarters of the Reagan Recovery, by contrast, looked like this: 5.1 percent, 9.3 percent, 8.1 percent, 8.5 percent, 8.0 percent, 7.1 percent, 3.9 percent, 3.3 percent, 3.8, percent, 3.4 percent. In fact, the Reagan Boom went from the first quarter of 1983 until the second quarter of 1986 without notching a sub-3 percent GDP quarter.

So, while the Reagan Recovery quickly made up for lost years of growth, not so much for the Obama Recovery, as this chart in today’s Wall Street Journal makes clear:

Over at Business Insider, a surprisingly left-wing rag given its ostensible focus on the private sector economy, some ludicrous hack named Joe Weisenthal insists that all of this data is irrelevant. His latest piece, basically a troll's post with a larger-than-usual website, is entitled "Why The Obama Recovery Has Been Much More Impressive Than Reagan's" (no link, you can find it if you want to).

Another thing about Reagan was that he was a deficit-lover.Reagan presided over the largest (still) one-year annual jump in the size of the national debt. (And PS: that just happened to be right after the recession, when the economy started growing like crazy as Pethokoukis notes)... The conditions behind the Great Recession were far worse than anything Reagan inherited, and Obama has pulled off a recovery with less of a sustained growth in Federal Government spending.

Hey, Joe - I wonder who was in control of the House during the Reagan years? Oh, yeah -- that's right. The Democrats, who insisted every one of Reagan's austerity budgets was "Dead On Arrival". Reagan wanted to eliminate the Department of Education, for instance. Sound like a big spender to you, Joe?

Reagan inherited double-digit unemployment, double-digit inflation, an oil crisis, a resurgent Soviet Union, and he'd turned America around in three years with a Democrat-controlled Congress. As a commenter observes:

A recap of Hope and Change since President Obama took office in Jan 2009. Comparing economic indicators starting in Jan 2009 to present day:

1. Federal debt has increased by 43% from $10.6 trillion to $15 trillion. 2. Americans living in poverty have increased by 16% from 39.8 million to 46.2 million. 3. Total unemployment (U6) has increased by 68% from 13.7 million to 23 million. 4. Price of gasoline has increased by 80% from $1.86/gal to $3.35/gal 5. Americans on food stamps have increased 42% from 31.8 million to 45.2 million 6. Home foreclosures per year have increased by 34% from 850,000 to 1,140,000 7. Total bankruptcy filings per year have increased by 42% from 1,117,641 to 1,593,081. 8. Median Household incomes have declined by 4%. 9. Average selling price of new homes has declined by 10%. 10. US dollar compared to foreign currencies has declined by 8.7%. [US dollar index of 85.9 in Jan 2009 to 78.5 in Dec 2011.] 11. US dollar compared to gold has declined 105%. [$855/oz. to $1750/oz.]

Not to mention adding a new, wildly unpopular and massive new entitlement program (Obamacare) when our existing entitlements are circling the drain.

"The reason I say that liberalism is the philosophy of the stupid is because we can look at what's going around in the country today. If, in your own lives, you were pursuing policies that were destroying your own home ownership, that were destroying your own job, that were creating a massive, impossible debt for your family and your children in particular, you'd stop it. You wouldn't keep doing it!

"And yet for the liberal, if it's imposed on you -- and they feel that they can be immune from it -- they're for it.

"They wouldn't do to themselves and their own family what they're doing to you, and your family, and the whole nation!

"Take Barack Obama. Does Barack Obama conduct himself in his own, personal affairs, in his family's affairs, as recklessly as he conducts the affairs of the nation? No. Would he run up the kind of relative personal debt that he's running up for the nation? No way.

"Would he do anything that would endanger his position as president? Of course not -- he thinks his agenda will return him to office. He's taking care of his constituent groups...

QOTD: "...some of these completely unbiased, intellectually curious academic institutions may have something of a vested interest in proving their point [that conservatives are stupid]. You see, as the economy continues to falter and conservative, austerity leaning measures begin to take hold and spread at both the state and federal levels, the wellspring of cash which fuels the universities begins to dry up as well. And not to cast aspersions on anyone’s intellectual honesty here, but coming up with a result that casts doubt on the people threatening to dry up your grant money might not be the worst outcome in the world." --Jazz Shaw